In keeping with regulatory reform goals, the Treasury
Department's Financial Crimes Enforcement Network (FinCEN) issued
today a revised form designed to help casinos report large
currency transactions.

Internal Revenue Service Form 8362 (Rev. July 1997), known as
the Currency Transaction Report by Casinos (CTRC), and its
instructions will become effective on July 1, 1997. The form has
been revised to simplify the reporting of the required
information, enhance the value of information provided to law
enforcement, and clarify the instructions on how to report large
currency transactions. Eight information items that were
determined to be minimally useful to law enforcement were
eliminated from the form.

Casinos, in all jurisdictions except Nevada, will be required
to use the revised form after June 30, 1997. These casinos will
continue to use the current form for all reportable transactions
occurring before July 1, 1997. Under the Bank Secrecy Act (BSA),
Treasury's key tool in the fight against money laundering,
casinos file a CTRC form on each transaction, involving either
"cash in" or "cash out" of more than $10,000
in currency per gaming day.

Casinos in Nevada are already required to use IRS Form 8852,
Currency Transaction Report by Casinos - Nevada, for reportable
transactions occurring after April 30, 1997, pursuant to Nevada
Gaming Commission Regulation 6A.

During 1996, casinos filed approximately 150,000 forms
reporting large currency transactions exceeding $3.2 billion.
These forms have a high degree of usefulness in criminal, tax and
regulatory investigations and proceedings.

"We have worked closely with the American Gaming
Association, the National Indian Gaming Association, state gaming
regulators and federal law enforcement to strike the appropriate
balance between providing the most useful information to law
enforcement while reducing the reporting burden on the gaming
industry," said Stanley E. Morris, FinCEN's Director.

A copy of the revised CTRC Form 8362 (Rev. July 1997) may be
ordered from the Internal Revenue Service (IRS) Forms
Distribution Centers by calling 1-800-TAX-FORM (1-800-829-3676),
or by writing to one of the following addresses:

Eastern Area Distribution
Center

P.O. Box 85075

Richmond, VA 23261-5075

Central Area Distribution
Center

P.O. Box 8908

Bloomington, IL 61702-8908

Western Area Distribution
Center

Rancho Cordova, CA
95743-9999

Also, Form 8362 is available electronically on the IRS
Internal Revenue Information Services (IRIS) bulletin board. IRIS
is accessible directly by modem by calling 1-703-321-8020. On the
Internet, connect to iris.irs.ustreas.gov or, for file transfer
protocol services, connect to ftp.irs.ustreas.gov. On the World
Wide Web, connect to http://www.irs.gov.
The file is available in PKZIP postscript or PDF formats.